? Negative NFA ownership Consequences?

I agree you have some sound logic Alexander, but I have to disagree that the stamp means nothing more than tax paid...

The form was approved by the Department of Justice under the direction of the Attorney General.

Therefore under the Attorney Generals purview, the form was approved giving the individual, corp or trust permission to own the weapon.

In my opinion that holds a lot of weight. Especially concerning machine guns, as usc 18 922o has a provision that the attorney has the ability to make exemptions. Im paraphrasing and any act of congress could change any of it, but it would be a lot harder to do on approved title ii opposed to title i weapons. And even harder without an act of congress.

AlexanderA .....The NFA tax is on a transactional basis, that is, it applies to a "transfer" or to a "making" and not to possession.

Click to expand...

Huh?
It's 100% about possession......whether a Form 4 transfer or a Form 1 making of a firearm.

Read the language on the Form 4: (the Form 1 has similar language)

Under Penalties of Perjury, I Declare that I have examined this application, and to the best of my knowledge and belief it is true, correct and complete, and that the transfer of the described firearm to the transferee and receipt and possession of it by the transferee are not prohibited by the provisions of Chapter 44, Title 18, United States Code; Chapter 53, Title 26, United States Code; or Title VII of the Omnibus Crime Control and Safe Streets Act, as amended; or any provisions of State or local law.

Click to expand...

The "taxable event" is either the transfer or the making, as the case may be. Possession, by itself, is not taxable. Paying the tax is merely one step among several in the process of getting the item registered in your name. It has to be in the Registry to be legally possessed. What paying the tax does is "unlock the door" of the Registry.

Maybe we could look at it this way: there's a tax aspect, and then there's an administrative aspect. These are somewhat overlapping, but are distinct. There are ways to get the registration changed without paying the tax (by inheritance, for example).

My point is that paying the tax doesn't give you any additional rights to possession. Once the transaction is completed (either the transfer or the making), the tax aspect is over and done with. What you have left is the Registry, and the Registry could be abolished at the whim of Congress. Every single NFA item would then be contraband. (You maybe could sue for "just compensation" under the 5th Amendment, but that would be about it.)

People don't seem to realize just how fragile our position as NFA owners really is. There is certainly no groundswell of political support for us (even the NRA won't go to bat for us), and the courts aren't sympathetic either. Sometimes I feel like I'm out there dangling by a thread -- a thread that could be cut at any moment. Our only protection is discreet political activism.

A further note on "just compensation" under the 5th Amendment, in case of a closing of the Registry and confiscation of machine guns (something that is not on the immediate horizon, but that cannot be totally excluded):

It is very likely that the fair market value to be compensated would not be the current market value, but rather the value as of May 19, 1986 (perhaps adjusted for inflation). That's because the huge increase in value since that date is entirely attributable to the government's own action in freezing the supply. If it compensated at current value, it would be giving a windfall in addition to the "true" value.

Anyway, this is all theoretical and let's hope it stays that way.

Article explaining why some people believe that NFA items are illegal in Texas.

Texas Penal Code quoted below:

"Sec. 46.05. PROHIBITED WEAPONS. (a) A person commits an offense if the person intentionally or knowingly possesses, manufactures, transports, repairs, or sells:
(1) an explosive weapon;
(2) a machine gun;
(3) a short-barrel firearm;
(4) a firearm silencer"

But if you continue to read

"(c) It is a defense to prosecution under this section that the actor’s possession was pursuant to registration pursuant to the National Firearms Act, as amended."

Lawful registration in accordance with the National Firearms Act is a “defense to prosecution”. In Texas, any “defense to prosecution” has to be disproven by the state beyond a reasonable doubt. If reasonable doubt is established that the item in question is properly registered, the state requires that the defendant be acquitted

http://www.ammoland.com/2014/10/nfa-weapons-are-legal-in-texas-other-states/#axzz3bYt2Er00

I have been greeted at my residence by 2 ATF Special agents out of the Dallas branch. Very professional, but serious. No negatives, they wanted to know why a gun I purchased was confiscated in a drug shoot out on the Mexican border. After I produced the AR, they were off by on digit on there serial number. Told them this was the 1 and only gun purchased and its never left my possession, they left, found there mistake and called me back apologizing about the mistake, they said they were setting in the correct individuals drive way, waiting for him to get off work. My expericence was pleasant, glad to know they are out there.

Federal law also says that any ATF agent can demand to see your original tax stamp, not the copy that they recommend be carried with the firearm. It does not say they can demand to see the firearm without a warrant. Anyone else can ask, but you do not have to comply, unless there is a law in your state requiring you prove the gun is registered.

Ranb

The downsides are addiction, multiplication (like socks and coat hangers), and turning money into noise (or lack of noise ).

The plus side is that if one is lost or stolen, the government won't just "look for it" they will LOOK FOR IT, and you stand a pretty good chance of getting it back!

Mike